Business in Vancouver has compiled its annual list of the largest BC Companies owned by women and, once again, Macdonald Realty Group has topped the list! That’s not all though; Macdonald Realty’s owner, Lynn Hsu, is also its President & Chief Executive Officer, growing the company from 1 office in 1990 to over 20 today.
Previously, Lynn has been named the #8 woman entrepreneur in Canada by Canadian Business magazine, as well as the Chinese Canadian Person of the Year. Macdonald Realty is proud to have a strong role model for women in business as our leader.
Vancouver’s property market bounces back and is poised to be stronger than ever
Dan Scarrow, VP Strategy, Macdonald Realty Group
With the Pacific Ocean to one side and the Rocky Mountains to the other, Vancouver is one of the world’s most scenic and liveable cities — and anyone from Vancouver will tell you that. Urban without being overwhelming, Canada’s third largest metropolitan area has a laid back pace that belies its economic importance and has been attracting buyers from around the world — and Asia in particular — for years. Only moderately affected by the financial meltdown of 2008, Vancouver’s property market looks to be holding firm, and the immediate future is looking bright. A bump from the 2010 Winter Olympic Games would be expected, but the rise in interest in Vancouver pre-dates the actual Games. “The Winter Olympics resulted in a bump in the real estate market prior to the event. Vancouver won the bid in 2003 and real estate prices have been on a relatively strongupward trajectory since that time,” explains Macdonald Realty Group’s Vice President of Corporate Strategy Dan Scarrow. “The [effects] on real estate prices post-Olympics has been more muted; however, the long-term effect of the Olympics on real estate activity in Vancouver will be positive.”
Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.
Vancouver in Balanced Market
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010. More….. »
It’s easy enough to recycle your newspapers, paper, cardboard, bottles, cans and plastics into your household recycling bins, but what about some common household items that you don’t want to throw in the garbage? I was trying to find places to recycle my used batteries, light bulbs and plastic bags.
Recycling rechargeable batteries and cellphones have been established for quite some time now. However, just this past June, the provincial goverment set up a program to recycle alkaline and single use batteries. I don’t know why it took so long, but at least we have it now! You can drop them off at several locations, the most common places are: Home Depot, Rona, Future Shop, Best Buy and London Drugs. For more info check out www.call2recycle.ca.
The Victoria Times Colonist ran an article earlier this week centered around Victoria’s harbour. It is a comprehensive article outlining the history, evolution, layout, jurisdiction issues, and land use challenges facing both the harbour and the people who use, enjoy and work on and around it.
Although the harbour has always been in the news over the years, it has been appearing in the local media more and more of late with many issues, such as: the inevitable need to replace or refurbish the Johnson Street Bridge, the proposed large-yacht marina off of Songhees Rd, the seismic upgrades to the Canadian Pacific steamship terminal and many more.
The article emphasizes the need for the amalgamation of authority over land use planning at the various sites surrounding the harbour, something that many Victorians (myself included) feel has been lacking for a long time.
John Spikerman (left) & Murphy Costello (right), Macdonald Realty Vancouver West
West Side inventory of homes fell 10% to 720 units as at July 30, 2010 from the peak of 797 units at the end of June. Sales also fell 17% from last month and are off the peak March level of 208 units by 41%. We are only off the last 12 year average by 21 units. The absorption rate is still hovering just under 6 months supply at 5.9 months. The year to date average sale price continues to increase, up 26% for the same period last year. Curiously this is the second straight month the average sale price has declined from the peak level in May where it was $2,034,181 and in July was $1,845,702 a decline of 9%.
Every September all properties that have not paid their proeprty taxes for 3 years are placed for tax sale. you can bid to buy the proeprty for a very cheap price. You will never get the property! You will get a very attractive interest rate on your investment … about 6%. The home owner has a 12 month redemption period to pay their outstanding property taxes after you put in your bid. Think of this as a great way to invest your money and earn a great guaranteed interest rate.
Jay is a sales associate with Macdonald Realty Vancouver Dowtown
Due to the prices in Downtown Vancouver (& surrounding areas) I find a lot of people looking into buying older / more run down units to renovate. This way they can leverage the renovation to boost their property value.
The best way to go about this is to hire a professional “specialist” Realtor (by this I mean an agent that actually knows the buildings “intimately” in your area of desire) who can get direct you towards buying into a building with “Good Bones”. By good bones I mean a building that has:
- Good foundation
- Good plumbing
- Good roof
- Good envelope
- PROACTIVE STRATA (most important)
Here’s a few tips/suggestions that we thought you might find useful when moving.
About a month before moving day:
- as a client of ours, you will receive a “Holmes Team After the Sale/Moving Checklist”
- call a moving company and book moving date
- notify post office for change of address
- notify school(s) of change of address
- contact your home insurance company to update info
- notify bank of change of address
A couple of weeks before moving day:
- contact your lawyer/notary to ensure they have all the information needed regarding the sale/purchase of your home
- arrange to have utilities disconnected at current home and connected at new home
- hold a garage sale to sell unwanted items More….. »
